CREJ

Page 26 — Office Properties Quarterly — September 2018 www.crej.com For further information please contact: AlecWynne, Principal, Managing Director alec.wynne@avisonyoung.com 720.508.8112 Partnership. Performance. A Di erent Approach to Denver Commercial Real Estate Solutions and Services Our professionals deliver exceptional service in today’s complex real estate environment. Through deep insights into the o ce, industrial, retail and multifamily, our professionals o er a full range of real estate solutions including: • Tenant and landlord representation • Capital markets and investment management • Advisory services • Debt capital solutions • Marketing and research services Learn how our approach might help you at: avisonyoung.com Experience the Di erence future generations, many of these build- ings are finding new life. While older buildings can come with challenges that new construction might avoid, many now are being renovated to provide the perks of a modern office with unique historical charm.These stalwart structures offer owners a chance to differentiate their properties in Denver’s increasingly competitive office market and – when approached correctly – offer a unique opportunity to build on Denver’s legacy of thoughtful historic preservation. Consider one of Denver’s first sky- scrapers, the 300,000-square-foot Den- ver Club Building. Constructed in 1954, The DC Building remains an architec- tural landmark along 17th Street, one of only four examples of International Style architecture in the urban core. Through a careful multimillion-dollar renovation, tenants now enjoy mod- ern amenities such as state-of-the-art conference rooms, a fitness center with spa-like showers and lockers, a bike-sharing program, and even an industrial-chic bowling alley and social space for their exclusive use – all with- out compromising the historic nature of the design. The result is an iconic, mid-century modern Class A office building that nods to Denver’s past while incorpo- rating modern upgrades, restoring the building to a place of relevance within the greater office market.With the ame- nities’ arms race alive and well, mean- ingful renovations that incorporate in- demand amenities like these add to the ever-growing supply of forward-think- ing office space that helps put Denver on the map for global businesses. Companies flocking to the urban core today have a dynamic mix of newly built and adaptive reuse projects from which to choose.While new construc- tion has a number of benefits, compa- nies looking for office spaces reflective of their brand can find plenty of options within newly renovated properties throughout downtown Denver. The historic Elephant Corral build- ing, for instance, recently underwent a major renovation to appeal to modern tenants.This storied brick-and-timber 66,200-sf office building originally was constructed onWazee Street in 1880 and renovated in 1983. While the 1983 renovation provided much-needed upgrades, including the iconic steel and glass façade, more recent improvements include upgrad- ing the building’s energy efficiency to align with Denver’s commitment to sustainability as well as creating a more inviting and functional gathering place in the building’s center courtyard.This meaningful approach to historic pres- ervation helped attract growing com- panies looking to build-out spaces that capture the spirit and vibrancy of their brands. Many tenants who seek historic prop- erties are eager to help maintain the historical integrity of these buildings, while putting their own stamp on the structure. Since renovation is already necessary, it provides an opportunity for tenants to tailor their spaces to bet- ter align with their individual company culture, values and needs. For example, MeetMindful jumped at the opportu- nity to create a more flexible layout to accommodate a greater variety of work- ing styles by knocking down the sea of private offices that existed in its 5,000-sf space in the Elephant Corral building. The company is now better positioned to recruit and attract the type of top talent needed to continue growing as a company. Throughout Denver, there are count- less examples of historic preservation and renovation done well.While it might not always be the easiest route, it often is the most rewarding; ensuring future generations retain ties to Den- ver’s rich past while building toward an even brighter future. ▲ Continued from Page 1 Market Trends Unico Properties While older buildings can come with challenges that new construction might avoid, many renovated properties can provide the perks of a modern office with unique his- torical charm. changes have enabled workers to focus less on personal errands and outside responsibilities, and more on being productive at work. Just 5 miles north of Swisslog Healthcare’s facility sits Etkin John- son’s ATRIA, a two-building Class A tech office development. Totaling 176,586 sf, it features attractive ame- nities, indoor/outdoor flexible work environments and 12-foot floor-to- ceiling windows. “Ware Malcomb’s design utiliz- ing tech office design principles has created a unique identity in the cre- ative office marketplace, positioning ATRIA as the Northwest corridor’s most cutting-edge office develop- ment,” said James Vasbinder, Etkin Johnson vice president development. The bottom line is, if you’re in the market for an office building or industrial building, tech office brings the best of both worlds. This innova- tion in office/industrial design meets a diverse set of needs, offers a larger pool of potential end users and, ulti- mately, increases return on invest- ment. Hybrid in nature, tech office is rooted in creative design. ▲ Chaiken Continued from Page 20